Hong Kong Mortgage Corporation Issues 3 New Bonds Totalling $1.53 Billion & Listed on Hong Kong Exchange: $1 Billion 2-Year Bond with 4.25% Yield, $383 Million 5-Year Bond with 4.1% Yield & $127 Million 10-Year Bond with 4.2% Yield
1st March 2024 | Hong Kong
The Hong Kong Mortgage Corporation Limited (HKMC) has issued 3 new senior unsecured bonds totalling $1.53 billion and listed on Hong Kong Exchange (HKEX) with the issue date all on 28th February 2024 – $1 billion (HKD 8 billion) 2-year bond with 4.25% yield, $383 million (HKD 3 billion) 5-year bond with 4.1% yield, and $127 million (HKD 1 billion) 10-year bond with 4.2% yield. Announcement: “The Hong Kong Mortgage Corporation Limited (HKMC) announced today (29 February) the successful issuance of its triple-tranche Hong Kong dollar (HKD) benchmark bonds totalling HK$12 billion (Issuance) under its US$30 billion Medium Term Note Programme, marking it the largest-ever HKD senior unsecured public bond transaction and the largest 10-year HKD public bond issuance in the institutional market. The Issuance was book-built and priced in Hong Kong on 21 February with the participation of 20 local and international financial institutions. The triple-tranche issuance comprises HK$8 billion 2-year, HK$3 billion 5-year and HK$1 billion 10-year bonds. With the strong market reopening after the Chinese New Year and a series of investor roadshows, the Issuance was well received by a diverse group of high-quality local and overseas institutional investors with strong orderbook of over HK$37 billion and final allocation to over 180 accounts, including banks, investment and retirement funds, insurance companies, central bank and government-related funds, family offices and private banks. Major terms of the Issuance are highlighted in the Annex.”
“ Hong Kong Mortgage Corporation Issues 3 New Bonds Totalling $1.53 Billion & Listed on Hong Kong Exchange: $1 Billion 2-Year Bond with 4.25% Yield, $383 Million 5-Year Bond with 4.1% Yield & $127 Million 10-Year Bond with 4.2% Yield “
Raymond Li, Executive Director & CEO of HKMC: “We are very pleased to see the successful issuance of the triple-tranche HKD benchmark bonds. This multiple-tenor issuance not only extends the HKMC’s bond issuance across the yield curve, but also sets a solid benchmark for other public sector entities and local high-grade issuers. We trust that this could inspire more debt issuance activities in Hong Kong and provide the investing community with high-quality HKD debt instruments, thereby promoting further development of the local bond market.”
Hong Kong Mortgage Corporation Issues 3 New Bonds Totalling $1.53 Billion & Listed on Hong Kong Exchange: $1 Billion 2-Year Bond with 4.25% Yield, $383 Million 5-Year Bond with 4.1% Yield & $127 Million 10-Year Bond with 4.2% Yield
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